If Fiat had any brains, they'd shut down the
plants (oops they are already shut down) buy up
the chrypsler assets (oops, that is the plan) and
hire new employees, sans the gummit, and sans
gett le finger. (Now theres a concept they can't comprehend)
Lesseee... where's Fiat from, oh, yeah, one of
the most corrupt so called "civilized countries"
[waiting for the flame about being
anti-onion. we wouldn't want to be realistic, would we?]
At 05:35 PM 5/6/2009, you wrote:
Dear Employees, The U.S. Bankruptcy Court
approved a process for the expeditious sale of
substantially all of Chrysler LLCs assets. This
is a major step forward as it sets out a swift,
clear path to achieve our goal of concluding our
alliance with Fiat S.p.A. and create a new
company that will be stronger and more
competitive. It is crucial that this transaction
be completed in a timely manner in order to
secure maximum value for our stakeholders and to
preserve key relationships with suppliers,
dealers and other business partners. In
addition, financial commitments from the U.S.
and Canadian governments require the alliance
with Fiat be consummated within 60 days of
Chapter 11 filing on April 30. Our new labor
agreements with the UAW and CAW also depend on
prompt completion of the proposed Fiat alliance.
As weve said many times before, our leadership
left no stone unturned as we aggressively
pursued a strategy of alliances and partnerships
with other OEMs and suppliers around the world.
Out of respect for the negotiating process and
confidentiality requirements, we have not
commented in the past on partnership talks that
have not resulted in deals. However, as part of
the Bankruptcy Court process, we disclosed that
we have previously discussed various
transactions with Nissan, General Motors,
Volkswagen, Tata Motors, Magna, GAZ, Hyundai,
Honda and Toyota and others over an extended
period of time. These discussions did not
produce any viable alternative to the proposed
alliance with Fiat. Its clear that the Fiat
deal represents the best opportunity for us. The
court today established a fair and orderly
process to confirm that the Fiat transaction
represents the best and highest bid for
Chryslers assets, or promptly identify any
other higher and better alternatives. An
alternative bidder would have to surpass the
value of the terms of the agreement with Fiat to
be successful. Going forward, important court
dates for us are: May 20, the deadline
for submission of alternative bids May
26, the deadline for the notice of designation
of lead bidder May 27, the date for the
sale hearing to consider the approval of the
proposed sale Its important to remember that
during this transition time, our dealers still
have great products to offer. Our quality has
never been better, as shown by our 29 percent
reduction in warranty claims over the last year.
For the 2009 model year, we improved the fuel
economy on 73 percent of our products. Our
dealers not only met their concession goals, but
also have continued to show tremendous
enthusiasm for our company, our brands and our
products in their local communities. To assist
our dealers and attract consumers, we are
introducing new incentives beginning today.
Were offering as much as $4,000 consumer cash
on 2009 model vehicles; a $1,000 owner loyalty
incentive for current Chrysler LLC vehicle
owners that is good towards most 2008 and 2009
vehicles; and as much as $1,000 credit union
bonus cash for qualified members who finance
their new vehicle purchase through one of 1,500
participating credit unions. These incentives
are valid through June 1, and they make it a
great time to shop for a new Chrysler, Jeep® or
Dodge. Acclaim for our new products keeps
rolling in. For example, the all-new 2009 Dodge
Ram 1500 came out on top in a head-to-head
competition against the Chevy Silverado, Ford
F-150 and Toyota Tundra conducted by
Edmunds.com. Edmunds praised the Rams 5.7-liter
V-8 engine, towing ability, axle ratio, fuel
efficiency and the RamBox cargo storage system.
The publication also raved about interior
features such as the heated and vented seats,
the navigation system and rear-seat DVD. We
realize that thousands of pages of documents
have been filed with the court. As media members
scrutinize these documents that are now public,
youll undoubtedly continue to hear and read
stories about our business. I want to remind
you to go to HYPERLINK
"http://scoop.chrysler.com"The Scoop or to
HYPERLINK
"http://www.chryslerrestructuring.com"www.chryslerrestructuring.com
to get the details on all motions and documents
that have been filed in court. Once more, thank
you for your sacrifices, which have helped lay
the groundwork for the swift completion of this
process that will enable us to emerge as a
vibrant company with bright, long-term
prospects. Bob Thanks, Tom Hargrave HYPERLINK
"http://www.kegkits.com"www.kegkits.com
HYPERLINK
"http://www.kegkits.com/JABF/"http://www.kegkits.com/JABF/
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